6th Mar 2006 15:52
Cable and Wireless plc NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIALRESPONSIBILITY (PDMR) OR CONNECTED PERSONSCable and Wireless plc ("the Company") advises that on 3 March 2006 JohnPluthero purchased 1,000,000 Ordinary Shares in the Company ("purchasedshares") at a price of 106.50 pence per Ordinary Share.In accordance with the terms of his employment, on the same date John Plutherohas been awarded 1,000,000 matching restricted shares in the Company. Thematching restricted shares are not subject to any performance conditions andwill vest on the third anniversary of the award subject to John Plutheroretaining a beneficial interest in the purchased shares and remaining anemployee of the Company.Also on 3 March 2006 John Pluthero was granted 1,163,873 share options at aprice of 107.40 pence per Ordinary Share and 232,774 performance share awardsin accordance with his terms of employment and the rules of the Cable &Wireless Incentive Plan.The share options granted are exercisable from 3 March 2009 to 2 March 2013,subject to the achievement of performance conditions based upon TotalShareholder Return ("TSR"). The performance shares granted will vest from 3March 2009 subject to the achievement of performance conditions based upon TSR.Full vesting occurs only if the TSR performance of the Company meets or exceedsthe upper quartile measured against the constituents of the FTSE GlobalTelecoms Sector Index during the performance period starting on 3 March 2006and ending on 2 March 2009. Where TSR performance meets the median, one thirdof the initial award vests. A sliding scale operates between median and upperquartile and nothing vests for performance below the median. If performanceconditions have not been met by the end of the performance period, the optionslapse. Vesting must also be warranted by reference to the underlying financialperformance of the Company during the performance period, which will bedetermined by the Remuneration Committee within 12 months of the end of theperformance period.Until the matching restricted shares and performance share awards disclosedabove vest, the shares will continue to be held by Towers Perrin Share PlanServices (GSY) Limited as Trustee of the Cable & Wireless Employee ShareOwnership Trust.The Company also advises that on 3 March 2006 Jim Marsh was granted 395,716restricted shares in the Company. The restricted shares vest over the threeyears following the date of grant.The consideration for the restricted share and performance share awards is ‚£nil.These transactions relate to (i) transactions notified in accordance with DR3.1.4R(1)(a) and (ii) in the case of John Pluthero only, a disclosure made inaccordance with section 324 (as extended by section 328) of the Companies Act1985.Name of person making notification: Heledd HanscombContact number: 020 7315 4626Date of notification: 6 March 2006ENDCable & Wireless PLCRelated Shares:
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